For decades, malls served as community hubs where people could shop, see a movie, or grab some food all in one convenient location. But the rise of e-commerce and social media caused malls to decline both as retail and recreational centers, leading many to look like ghost towns today. In fact, experts predict that one in every four malls could go out of business by 2022.
In an effort to stay open, mall owners across the country have started appealing Continue reading
For many traditional retailers, 2017 was not a good year. Along with the more than 20 chains that filed for bankruptcy, established brands like Sears and J.C. Penney also announced that they’d be closing hundreds of locations. Unfortunately, the outlook doesn’t look much better for 2018. As Amazon continues to disrupt the industry by dominating e-commerce, experts predict that more bankruptcies and store closings could be on the way. “I think the early part of next year will be Continue reading
Although many retailers enjoyed a sales boost during Thanksgiving Weekend, no other company can rival Amazon’s stellar start to the holiday season. The e-commerce outlet brought in 45 percent of all online purchases on Thanksgiving along with nearly 55 percent of Black Friday’s total Internet transactions. Plus, Amazon announced that Cyber Monday was the company’s biggest sales day ever, boasting that customers had purchased “hundreds of millions of products” throughout the weekend.
Along with putting Amazon’s huge influence with customers Continue reading
Last week we took a look at how analysts were lowering their expectations for Black Friday, which is traditionally the country’s biggest annual shopping event. While retailers managed to generate about $5 billion in sales on the day, this year’s take was decidedly lower than in years past. In some cases store traffic was non-existent, leading at least one newscaster to vent their frustrations about the poor turnout on air. But while some brick-and-mortar stores stayed empty, Continue reading
For decades Black Friday has served as the country’s symbolic start to the holiday shopping season. Each year local news teams honor the event by turning their cameras onto the post-Thanksgiving crowds who gather in front of stores and wait patiently for the doors to swing open. Once inside, some deal-seeking shoppers frantically seek out products before anyone else can get to them, occasionally leading to arguments or even fights.
Of course, this perspective on Black Friday may be more Continue reading
Even though November has just begun, stores across the country are already starting to roll out the tinsel and turn on the carols in preparation for the Christmas shopping season. So as the retail world gets into the yuletide spirit, you may as well do the same and start thinking about what sort of gifts your family and friends would like to receive this year. Perhaps they’re the kind of people who would enjoy spinning a silver-plated yoyo? Or maybe Continue reading
While Amazon has been an online retail powerhouse for years now, in 2017 the company showed the business world what a truly dominant force it could be. Along with buying Whole Foods during the summer, Amazon’s name came up constantly as the media discussed how the online outlet had upended the traditional retail industry. But despite all the talk about Amazon’s growing supremacy, the company still can’t compete in one of retail’s most lucrative sectors: fashion.
That’s not to Continue reading
In malls across the country, food courts act as hubs where shoppers can eat, drink, and take breaks from comparing price tags. Along with sharing a common purpose, these corrals of restaurants and drink stands often serve similar fare, too. After all, walk into any food court and you’re likely to find mainstay chains like Sbarro, Subway and Panda Express alongside a couple of local options.
This dependable if slightly boring structure served retail centers well for decades as shoppers Continue reading
The decline of brick and mortar retail has been one of the biggest business stories of the year, with formerly successful chains like HH Gregg, Payless and others filing for bankruptcy. And this week Toys ‘R’ Us became the latest company to join this unfortunate group. Like so many other traditional retailers, Toys ‘R’ Us couldn’t keep up with the growing dominance of Amazon. The company’s CEO said it would need to slash prices in order to stay afloat, Continue reading